Chautauque County Bank v. White
New York Supreme Court
In Egiuitt. On the 19th of September, 1837, John Z. Sax-ton, having been extensively engaged in mercantile and other business, and being insolvent, made an assignment of his property to Pearson Crosby and John Crane, in trust for the payment of his debts. By the terms of the assignment the debts to be paid were divided into four classes, which were to be paid in the order specified.
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In Egiuitt. On the 19th of September, 1837, John Z. Sax-ton, having been extensively engaged in mercantile and other business, and being insolvent, made an assignment of his property to Pearson Crosby and John Crane, in trust for the payment of his debts. By the terms of the assignment the debts to be paid were divided into four classes, which were to be paid in the order specified. The first class amounted to $5523,00, and embraced two notes due to the plaintiffs, amounting to $2800. The second class consisted of all other debts which Saxton had contracted on his own account, and was…
1Opinion of the CourtHarris, J.
by the terms of the sale, under which the defendant claims title to the premises in question, the purchaser was to take his title subject to the liens and„ incumbrances thereon. And that those who attended the sale might be apprised of the extent of such incumbrances, a schedule of judgments was exhibited, to the amount of about $20,000. The sale was conducted under the direction of the defendant; and it must be presumed that it was with his knowledge and approbation that those present at the sale were informed, that the purchaser of the lands to be sold, must take the property charged with…
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